June 18, 2018 - This past weekend there were many celebrations for the "grads" and "dads" in our lives. These annual celebrations come towards the culmination of the 3rd Quarter in Federal Contracting. We often see fads during this period with the onset of new players entering the federal market to capitalize on the upcoming frenzy of Q4 purchases. These one-hit wonders can put a dent in your strategy, especially if they are bidding at below government market rates. How do we know what these market rates are?
(1) - One good source of (labor/service) pricing is the GSA CALC tool Use this to learn average and median rates for your job titles - including criteria on education and minimum years experience;
(2) - Another good source of (product and software) pricing is GSA Advantage;
(3) - Work with our pricing team to develop competitive rates (from scratch or for a solicitation);
Don't be a fad gone gone bad with lowest pricing technically acceptable (LPTA) strategy. If you are in it for the long haul, it's important to have a strategic plan, use data and market intelligence to make sound decisions, and most importantly to build relationships and trust with your target buyers and teaming partners based on your value.